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" Exemption shall not be denied any such corporation because it has capital stock, if the dividend rate of such stock is fixed at not to exceed the legal rate of interest in the State of incorporation or 8 per centum per annum, whichever is greater, on... "
Compilation of the Social Security Laws - Page 318
by United States. Congress. House. Committee on Ways and Means - 1961 - 504 pages
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The Code of Federal Regulations of the United States of America

Administrative law - 1984
...allocation. (2) An association which has capital stock will not for such reason be denied exemption (i) if the dividend rate of such stock is fixed at not...consideration for which the stock was issued, and (ii) if substantially all of such stock (with the exception noted below) is owned by producers who...
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Code of Federal Regulations: Containing a Codification of Documents of ...

Administrative law - 1972
...though it issues preferred stock entitling the holders to dividends at a fixed rate, not exceeding the legal rate of interest in the State of incorporation...the consideration for which the stock was issued, provided that its articles of incorporation require : (1) That the preferred stock shall be retired...
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The Code of Federal Regulations of the United States of America

Administrative law - 1960
...though it issues preferred stock entitling the holders to dividends at a fixed rate, not exceeding the legal rate of interest in the State of incorporation...the consideration for which the stock was issued, provided that its articles of incorporation require : (1) That the preferred stock shall be retired...
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Code of Federal Regulations: Containing a Codification of Documents of ...

Administrative law - 1973
...though it issues preferred stock entitling the holders to dividends at a fixed rate, not exceeding the legal rate of interest in the State of incorporation...the consideration for which the stock was issued, provided that its articles of incorporation require : (1) That the preferred stock shall be retired...
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Code of Federal Regulations: Containing a Codification of Documents of ...

Administrative law - 2000
...preferred stock which entitled the holders to dividends at a fixed rate, not exceeding the legal rage of interest in the State of incorporation or 8 percent...the consideration for which the stock was issued, if its articles of incorporation require: (i) That the preferred stock be retired at par as rapidly...
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Code of Federal Regulations: Containing a Codification of Documents of ...

Administrative law - 1994
...preferred stock which entitled the holders to dividends at a fixed rate, not exceeding the legal rage of interest in the State of incorporation or 8 percent...the consideration for which the stock was issued, if its articles of incorporation require: <i) That the preferred stock be retired at par as rapidly...
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The Code of Federal Regulations of the United States of America

Administrative law - 1974
...expenses. (2) Organizations having capital stock. Exemption shall not be denied any such association because it has capital stock, if the dividend rate...at not to exceed the legal rate of interest in the Chapter I — Internal Revenue Service, Dept. of the Treas. State of Incorporation or 8 percent per...
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Revenue Revision of ...

United States. Congress. House. Committtee on Ways and Means - Finance - 1951
...to them at actual cost, plus necessary expenses. Exemption shall not be denied any such association because It has capital stock. If the dividend rate...stock is fixed at not to exceed the legal rate of Interrst in the State of incorporation or 8 per centum per annum, whichever Is greater, on the value...
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Internal Revenue Bulletin: Cumulative bulletin

United States. Internal Revenue Service - Taxation - 1968
...(b) (2) of the Code provides that exemption shall not be denied a farmers' cooperative association "because it has capital stock, if the dividend rate...the consideration for which the stock was issued." (Emphasis added.) In view of this explicit language, the annual dividend may not exceed the maximum...
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FCS Bulletin, Issues 1-10

Agriculture, Cooperative - 1955
...expenses. (2) Organizations having capital stock. — Exemption shall not be denied any such association because it has capital stock, if the dividend rate...rate of interest in the State of incorporation or 8 M44 Stat. 9, 40. Sec. 231 (12) of this act, in summary', provided that a cooperative might act as principal...
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